IMF Forecast: Middle East Economies Set to Lead Global Growth in 2027
The IMF projects that Iraq, Qatar and Kuwait will be among the world’s fastest-growing economies in 2027, with growth above 17%. The expected rebound follows major contractions in 2026 and depends on shipping through the Strait of Hormuz returning close to prewar levels. Guyana is forecast to grow by 16.8% as offshore oil output expands. Vietnam and India are also expected to record strong growth, supported by manufacturing exports and domestic consumption. At the other end, Bolivia, Equatorial Guinea and Haiti are projected to contract. Italy, France, Japan, Germany and the UK are expected to post weak growth, with high energy costs and pressure from Chinese competition weighing on European economies. The outlook raises questions for Nigeria, which faces its own economic pressures and must improve production, investment and export capacity to regain stronger growth momentum.
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